Despite Fed Chair's promise, no names of borrowers or amounts of loans have been revealed

https://wallstreetonparade.com/2020/05/fed-chair-powell-promises-transparency-then-draws-the-dark-curtain-tighter/

 

‘The Primary Dealer Credit Facility and Money Market Mutual Fund Liquidity Facility showed up on the Fed’s balance sheet on March 25 of this year, with balances of $27.7 billion and $30.6 billion, respectively. As of yesterday, the Fed showed the following balances for those two programs: $7.5 billion and $36.4 billion, respectively.

“But when the Fed released its March 25 and April 24 reports on these two programs, there was not a scintilla of information on the names of borrowers or amounts borrowed.”

NOTE: These are not CARES Act Facilities but ones the Fed set up on its own under 13(3) prior to CARES enactment.

 

Charlie Cooper